Africa Monitor

Africa Monitor Intelligence

Cabo Verde: IIB Bank on Front Row to buy Atlantic Commercial Bank from CGD

IIB Cabo Verde, which has as a majority shareholder SOHAIL SULTAN AHMAD, tried the acquisition of Banco Efisa and, more recently, of Banco Português de Gestão (from Fundação Oriente), one of the shareholders of Novo Banco Cabo Verde, created by the Government of PAICV and the target of resolution of the central bank (BCV), right in the first months of the MpD Government, in 2016. It has also attempted acquisitions in Portugal that require authorization from the European Central Bank (BCE). READ MORE